The Most UNWORKABLE State LAW of Illinoi

A New LAW called the Digital Property Protection and Law Enforcement Act is being created.

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The Most UNWORKABLE State LAW of Illinoi

A New LAW called the Digital Property Protection and Law Enforcement Act is being created.

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The LAW allows the Attorney General or a State's Attorney to ask a court to order a blockchain transaction for digital property or a smart contract.

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If a court receives a valid request according to the state's laws, it can order an appropriate blockchain transaction.

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The law will become effective 30 days after it is passed.

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Blockchain networks MUST follow state court orders for digital property and smart contracts, even without private key access.

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The law also includes RULES to protect digital property and contracts, security interests, and rules for serving legal documents.

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If a blockchain network doesn't follow a court order, the Attorney General or State's Attorney can ask the court to FINE the network between $5,000 and $10,000 for each day of non-compliance.